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Peter F. Drucker lecture on banks and consumers, finance, and the textile industry
Peter F. Drucker
Date Created and/or Issued
Publication Information
The Drucker Institute
Contributing Institution
Claremont Colleges Library
Drucker Archives
Rights Information
For permission to use this item, contact The Drucker Institute,
Drucker begins this lecture discussing banks and who has, traditionally, needed and used the banks, its users being, primarily, the business community. They proceed to talk about the history of the accountant and accounts in banks before talking about how the banking business consists of getting savings from customers and lending them to businesses, with the Japanese leading in regard to this practice. Drucker then talks about the importance of public perception of banks, and how customers identify with their particular bank, before reflecting on what the customer expects from their commercial bank. He identifies banking as, essentially, money management, and how banking operations are strengthened by freeing the bankers from the chores so that they can devote their resources to the twin objectives of getting money into the bank and getting money out of the bank. Drucker goes on to talk about how customers expect to get what they pay for. Banks compete for the resources of the community by continuously offering more and more services to their customers. He then discusses credit cards and how they function as information systems in a modern economy before moving on to talk about the quantity of banks in Western Europe and the United States that are national, as opposed to local. The class moves on to discuss why the New England textile industry relocated to the South and the technological innovations that have accompanied textile manufacture. Historically, there have been two human bonds, according to Drucker, that have been part of the human experience, one being the family bond, and the other, the work bond. Both, he notes, are equally important, and gender roles have been well-defined, although in recent times, such norms have been challenged. Drucker also considers how spinning and weaving were, in the past, a means to organize production in the home, and how the spinning wheel changed the economic relations between the sexes. With the arrival of the eighteenth century and the automatic loom, methods of work once again changed and workers became more productive. The class proceeds to talk about how the concept and rites of passage concerning work have changed into the twentieth century, and the maturation of positions in banking. Drucker then reflects on his life’s course through work, and how the data processing revolution in banking has forced potential workers to gain more formal education. He then describes how financial institutions, as opposed to legal work, cannot be purely local and therefore one does not have to rely on connections for job opportunities in finance. Drucker concludes the lecture discussing the crisis in social value, and dislocation, that innovation and technology have ushered into the modern world.
Drucker, Peter F. (Peter Ferdinand), 1909-2005
Claremont Graduate University
Claremont Graduate School
Claremont Graduate University-Faculty
Claremont University Center
Banks and banking
Money management
Credit cards
New England
American South
Gender, society & development
Gender, science, and technology
Gender, space and society
Law & society
Customers (Consumers)
Gender (Sex)
Original recording, 1978; Drucker Archives; Box 68
Drucker Archives -

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